Interest in middle to higher-end property in London is increasing, reveals one expert.
Peter Braithwaite, head of UK residential at DTZ, says it hit a low point just before Christmas but has since seen signs of improvement.
"Even if the bottom of the market may not have been reached, most purchasers believe that prime central London will prove to be a good investment in the medium term," he suggests.
Mr Braithwaite claims that more sales are being concluded because people perceive this area of the property market as more volatile than stocks and shares, for example.
In addition to this, the expert says overseas buyers are expressing an interest mainly due to the weakness of sterling.
According to the Halifax House Price Index, the average UK house prices declined by 1.9 per cent in March and house prices in the first quarter of 2009 were 2.7 per cent lower than in the previous quarter.
See Also: Property News (5994)
Date Published: 08 April 2009
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